Dubai, UAE, 29 January 2008 - The meeting organized by the United Nations Political Office for Somalia (UNPOS) in Dubai (UAE) brought together business people from Africa and the Middle East, personalities from Europe and the United States and members of the Somali business community. The meeting, entitled: “The Private Sector: a Tool for Peace in Somalia” was aimed at assessing the economic situation in Somalia and the opportunities that could allow the country to move from a war to a peace economy.

The meeting identified a wide range of economic sectors that could boost the Somali economy including livestock and livestock products, agriculture, money transfer, telecommunications, infrastructure, oil and gas, mining, transport and tourism.

Businessmen and women from Africa and the Middle East came to the conclusion that despite the 17 years of crisis, the Somali economy is still stronger than that of many countries in Africa in terms of Gross Domestic Product and imports and exports. They also agreed that current business opportunities could be increased with stability in the country.

The Somali participants witnessed the expression of will, the interest and commitment of their counterparts from Africa and the Middle East to join with the efforts by the Somalis to move from crisis and stagnation to economic growth.

The non-Somali participants called on the Somalis to help create an environment conducive to investment including political, security and social stability. They expressed their readiness to consider ways and means to encourage the Somalis to follow a ‘critical path’ that will lead to the stability necessary for political, economic and social development.

The meeting requested UNPOS to impress upon the parties in Somalia to put the interests of the country before other interests, and work towards the return of peace and security.